The Qatar Stock Exchange (QSE) Index gained 244.25 points or 2.4% during the week to close at 10,221.48.

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Weekly MarketReport
Thursday,16 November 2023
Regional Indices Close WTD% MTD% YTD%
Weekly Exchange
Traded Value ($ mn)
Exchange Mkt.
Cap. ($ mn)
TTM P/E** P/B** Dividend Yield
Qatar* 10,221.48 2.4 7.3 (4.3) 729.85 163,858.1 12.1 1.3 4.8
Dubai 3,984.52 1.4 2.8 19.4 377.48 182,067.8 8.8 1.3 4.5
Abu Dhabi 9,607.09 0.8 2.8 (5.9) 1,087.31 726,382.3 27.8 3.0 1.6
Saudi Arabia# 11,022.89 1.7 3.1 5.2 7,032.54 2,956,779.8 18.4 2.2 3.3
Kuwait 6,642.26 0.8 1.7 (8.9) 712.97 138,743.7 14.0 1.4 4.2
Oman 4,619.36 1.8 1.6 (4.9) 44.32 23,554.2 13.9 0.9 4.8
Bahrain 1,946.52 0.8 0.9 2.7 32.06 53,817.4 6.9 0.7 8.6
Source: Bloomberg, country exchanges and Zawya (** Trailing Twelve Months; * Value traded ($ mn) do not include special trades, if any; #Data as of November 15, 2023)
Market Review and Outlook QSE Index and Volume
The Qatar Stock Exchange (QSE) Index gained 244.25 points or
2.4% during the week to close at 10,221.48. Market
capitalization moved up 2.1% to reach QR597.6 billion (bn)
compared with QR585.3bn at the end of the previous trading
week. Of the 50 traded companies, 39 ended the week higher
and 9 ended lower, while two were unchanged. Meeza QSTP
(MEZA) was the best performing stock for the week, gaining
10.0%. Whereas, Doha Insurance (DOHI) was the worst
performing stock for the week, moving lower 2.0%.
Qatar Islamic Bank (QIBK), Industries Qatar (IQCD) and
Masraf Al Rayan (MARK) were the main contributors to the
weekly index gain. QIBK and IQCD added 61.64 and 55.85
pointsto theindex, respectively. Further, MARK added another
54.74 points.
Traded value during the week declined 15.0% to QR2,654.4mn
from QR3,123.7mn in the prior trading week. Masraf Al Rayan
(MARK) was the top value traded stock during the week with
total traded value of QR556.4mn.
Traded volume dropped 23.0% to 1,019.4mn shares compared
with 1,324.3mn shares in the prior trading week. The number
of transactions went down 11.1% to 89,539 vs 100,768 in the
prior week. Masraf Al Rayan (MARK) was the top volume
traded stock during the week with total traded volume of
223.7mn shares.
Foreign institutions remained positive, ending the week with
net buying of QR68.2mn vs. net buying of QR118.4mn in the
prior week. Qatari institutions remained bullish with net
buying of QR9.9mn vs. net buying of QR4.4mn in the week
before. Foreign retail investors ended the week with net selling
of QR0.9mn vs. net selling of QR20.1mn in the prior week.
Qatari retail investors recorded net selling of QR77.2mn vs. net
selling of QR102.7mn the week before. YTD (as of Today’s
closing), global foreign institutions were net short $176.9mn,
while GCC institutions were net buyers of Qatari stocks by
$748.6mn.
Market Indicators
Week ended.
Nov 16, 2023
Week ended.
Nov 09, 2023
Chg. %
Value Traded (QR mn) 2,654.4 3,123.7 (15.0)
Exch. Market Cap. (QR mn) 597,586.2 585,323.4 2.1
Volume (mn) 1,019.4 1,324.3 (23.0)
Number of Transactions 89,539 100,768 (11.1)
Companies Traded 50 50 0.0
Market Breadth 39:9 26:22 –
Market Indices Close WTD% MTD% YTD%
Total Return 21,936.74 2.4 7.3 0.3
ALL Share Index 3,440.11 2.1 6.5 0.7
Banks and Financial
Services
4,256.74 2.3 8.4 (3.0)
Industrials 4,046.24 2.9 6.5 7.0
Transportation 4,150.92 (1.6) 0.2 (4.3)
Real Estate 1,477.65 4.6 9.1 (5.3)
Insurance 2,480.12 0.4 (1.0) 13.4
Telecoms 1,521.70 2.0 1.0 15.4
Consumer Goods & Services 7,478.08 1.3 7.4 (5.5)
Al Rayan Islamic Index 4,521.13 3.4 8.1 (1.5)
Weekly Index Performance
10,006.93
10,035.05
10,016.65
10,178.90
10,221.48
0
150,000,000
300,000,000
9,800
10,050
10,300
12-Nov 13-Nov 14-Nov 15-Nov 16-Nov
Volume QE Index
2.4%
1.8% 1.7%
1.4%
0.8% 0.8% 0.8%
0.0%
1.0%
2.0%
3.0%
Qatar*
Oman
Saudi
Arabia
Dubai
Abu
Dhabi
Kuwait
Bahrain

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Economic, Market & Company News
 MSCI Semi-Annual Index Review results: November 2023 - MSCI
announced on November 14th, 2023, the results of the MSCI Equity
Indexes November 2023 Index Review. For the MSCI Qatar Indices
the outcome of the review is as follows:
(MSCI and QSE)
 QNB Group successfully refinances $2bn senior unsecured
syndicated term loan facility - QNB Group, the largest financial
institution in the Middle East and Africa, announced the successful
refinancing of its $2bn unsecured syndicated term loan facility.
Abdulla Mubarak Al-Khalifa, QNB’s Group CEO commented: “This
refinancing attracted the interest of global and regional banks and
helped us further broaden our investor base. The issuance was
substantially oversubscribed at competitive all-in pricing, which
despite challenging global markets demonstrates our standing as a
high-quality issuer. We see this transaction as confirmation of our
successful strategy of becoming a leading bank in MEASEA and
establishing meaningful relationships.” The $2bn facility, with a
maturity of three years was well supported by both regional and
international banks with substantial oversubscription. The
syndication was led by Bank of America Europe Designated Activity
Company, Barclays Bank PLC, HSBC Bank Middle East Limited, J.P.
Morgan Securities plc, Mizuho Bank, Ltd., Standard Chartered Bank
and SMBC Bank International plc (the Initial Mandated Lead
Arrangers). HSBC was mandated as Scheduling Co-Ordinator, SMBC
as the Documentation Co-Ordinator, while Mizuho was mandated as
the Syndication Co-Ordinator and Facility Agent. QNB Group
currently ranks as the most valuable bank brand in the Middle East
and Africa. Through its subsidiaries and associate companies, QNB
Group extends to more than 28 countries across three continents
providing a comprehensive range of advanced products and services.
The total number of employees is more than 30,000 operating
through 900 locations, with an ATM network of more than 4,800
machines. (Qatar Tribune)
 Expo 2023 Doha records more than 650,000 visitors - Expo 2023 Doha
has recorded more than 650,000 visitors since the exhibition opened
on October 2, secretary-general Engineer Mohamed Ali al-Khoury
told Gulf Times Monday. Speaking on the sidelines of the
inauguration of the Gulf Engineering Union’s pavilion at the
International Zone, he said that the expo has drawn visitors,
including school students, to learn about preserving the
environment, sustainability, Qatar’s future plans, and the cultures
and customs of the participating countries. The Gulf Engineering
Union, through its pavilion, will educate visitors about the latest
trends in sustainability and techniques in the farming and irrigation
sectors. The pavilion encompasses four vital areas, with an exclusive
area for engineers to exchange experiences. The educational area
features engineering techniques in developing agriculture, including
smart irrigation methods, and vertical agriculture while highlighting
the use of robots in farm management. There are also entertainment
and sport areas. “The Gulf Engineering Union pavilion has programs
for school students,” al-Khoury said. “Three schools will be received
on a daily basis ... the number may increase in the future.” He noted
that more than 80% of the expo’s pavilions are now open, with a
number of the countries taking part in the expo for only a few
months. Al-Khoury said that the exhibition also offers lectures by
local universities and seminars organized on the event’s sidelines.
Engineer Khaled al-Nasr, chairman of the Board of Directors of the
Qatar Society of Engineers, highlighted that the Gulf Engineering
Union has made many contributions to the development of
agriculture. (Gulf Times)
 Consumer Price Indexrises by 1.08% inOctober 2023 - The Consumer
Price Index (CPI) for October 2023 reached 108.09 points, showing an
increase of 1.08% when compared to CPI of September 2023.
Compared to CPI of October 2022 (Y-o-Y basis), an increase of 2.52%
has been recorded in the generalindex (CPI) of this month. According
to a statement issued by the Planning and Statistics Authority (PSA)
Wednesday, the monthly increase on CPI of September 2023 was
attributed to a rise in six groups: Recreation and Culture by 10.27%;
Restaurants and Hotels by 2.83%; Food and Beverages by 0.25%;
Communication by 0.18%; Miscellaneous Goods and Services by
0.16%; in addition to a slight increase in Health by 0.08%. A decrease
has been recorded in Furniture and Household Equipment by 2.08%,
followed by Clothing and Footwear by 0.84%, Transport by 0.67%,
Housing, Water, Electricity and other Fuel by 0.59%. Tobacco, and
Education remained flat at the last months price level. A comparison
of the CPI of October 2023 with the CPI of October 2022 (Annual
Change), an increase has been recorded in the general index (CPI) by
2.52%. This Y-o-Y price increase was primary due to the prices rising
in six groups namely: Communication by 14.50%, Recreation and
Culture by 11.18%, Education by 6.72%, Food and Beverages by
3.86%, Transport by 1.22%, Miscellaneous Goods and Services by
1.21%. A decrease has been shown in price levels in Housing, Water,
Electricity and other Fuel by 2.41%, Restaurants and Hotels by
2.35%, Clothing and Footwear by 1.35%, Furniture and Household
Equipment by 0.22%, and slight decrease in Health by 0.06%. No
changes recorded on Tobacco. (Peninsula Qatar)
 IGU: Qatar drives Middle East prominence in global LNG landscape -
The Middle East, led by Qatar, will be an important region in the
global LNG landscape, the International Gas Union (IGU) said in its
latest report. With ongoing expansion plans at the huge North Field,
Qatar could “potentially boost” LNG export capacity to 126mn
tonnes per year (MTPY)by 2030, from77.8MTPY (as of August2023)
it said. “Given the low-cost production of North Field East fields and
shipping cost advantages, Qatar is primed to serve both European
and Asian LNG demand in the long term,” IGU said in its ‘Global gas
report 2023’. Qatar, Russia, and Nigeria are the next three dominant
exporters of LNG to Europe, with the region’s largest being France,
Addition(s) to the MSCI Qatar Index*
(*MSCI Qatar Index includes
companies included in both MSCI
Qatar Large Cap Index and MSCI Qatar
Mid Cap Index)
None
Deletion(s) from the MSCI Qatar Index None
Addition(s) to the MSCI Qatar Small
Cap Index
None
Deletion(s) from the MSCI Qatar Small
Cap Index
None

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Spain, Belgium, and the Netherlands, it said. The report noted global
gas demand decreased by 1.5% in 2022 compared to 2021, with large
declines in Europe and Asia off set by strong growth in North
America. Falling demand in the regions hit hardest by the energy
crisis persisted during the first half (H1) of 2023 and was primarily
driven by industrial slowdown and decreased heating demand
caused by a mild winter in the northern hemisphere. Although global
demand dropped by 1.5% in 2022, regional demand destruction was
a lot more pronounced, IGU said. Europe’s gas demand decreased by
almost 12% in 2022 year-on-year, in response to the supply and price
shocks coming on the heels of the Russia-Ukraine war. The good luck
of a very mild 2022- 23 winter was a major contributor to Europe’s
reduced gas demand, together with significant losses in industrial
demand, gas to coal switch, and renewables uptake. Spikes in
international spot LNG prices caused the demand in Asia to fall by 18
bcm (1.9%) in 2022 compared to 2021. Significant demand
destruction also happened in South Asia, where the price of LNG
became unaffordable, causing switching to coal wherever possible
and leading to shortages and blackouts. For instance, Pakistan and
Bangladesh saw a 12% and 15% reduction in gas demand,
respectively. On the contrary, North American gas demand grew by
4.8% or 49 bcm year-on-year in 2022, a notable increase driven
primarily by increased gas-fired power generation as well as
residential and commercial applications. The North American
market prices remained largely isolated and affordable, due to its
predominantly regional nature with domestic production. IGU noted
that from January to August of this year, the European Union (EU)
saw a cumulative gas consumption decrease of roughly 10% year-
on-year (both an effect from industrial slowdown and the EU’s
intentional switch from gas to other energy sources), while China
saw gas demand grow by 5.4% year-on-year during H1, 2023. (Gulf
Times)
 Freight and logistics industry to amount to over QR44bn by 2029 -
The Qatar freight and logistics market is estimated to amount to
QR32.15bn ($8.83bn) this year and is expected to amount to
QR44.16bn ($12.13bn) by 2029. According to the Mordor Intelligence
report, the sector is poised for a compound annual growth rate
(CAGR) of 5.44% in the next half a decade. As Qatar is one of the
leading liquefied nitrogen gas (LNG) suppliers worldwide, the
country has backed and played a crucial role in the growth of the
logistics market. The report notes that the market’s growth can be
attributed to new expansion plans due to their hosting of FIFA 2022
and expects to be driven by expanding industrial activities, evolving
e-commerce and automotive sectors, upcoming infrastructure
developments, and continuous investments by the government to
enhance logistics infrastructure. It also states that in 2020, the
transportation and storage market had a GDP share contribution of
nearly 4.1%, the highest from 2017-2022. Accelerating shift in the
trade sector and transportation infrastructure in the country,
logistics areas project invested roughly over QR29bn ($8bn).
However, Qatar’s transportation industry attained a valuation of
around QR44bn ($12bn) in 2022. It said: “The nation holds the second
position in the region for its effective logistics services and ranks
fifth among the GCC countries regarding port capacity.” The
contribution of close to QR36bn ($9.9bn) to Qatar’s GDP in 2022 from
transportation and storage unlocks doors to diverse possibilities,
including investment prospects. “The Logistics Areas Project in the
southern region of Qatar is expected to draw QR30bn ($8.17bn) in
direct investments for development projects,” the report mentioned.
The project, however, is expected to be developed as a regional hub
for investments and logistics services, fostering trade sector
competition and actively promoting the private sector to partake in
the Qatar National Vision 2030. “The project will also offer logistics
services, such as assembly, processing, open storage spaces, storage
facilities, exhibitions, shops, and commercial offices,” it added. The
Qatar Freight and Logistics Market is fragmented, with the top five
companies occupying 10.95%. The key players in this market are
Gulf Agency Company (GAC), Gulf Ware-housing Company, Milaha
Group, Nakilat Agency Company (NAC) - Nakilat, and Qatar Airways
Cargo, respectively. (Peninsula Qatar)
 Qatar’s construction sector anticipates growth of 3.6% - The Qatari
construction sector is expected to grow by 3.6% in real terms in 2023,
following an estimated annual growth of 4.7% in 2022, states
analysts at the Research and Markets. However, growth this year
will be aided by the development of energy, utility, and
transportation projects as the publisher estimates that oil and gas
projects amounting to at least QR38.2bn ($10.5bn) will commence
this year. Additionally, the country’s plan to increase Liquefied
Natural Gas (LNG) production capacity from 77mn tonnes per year
last year to 126mn tonnes per year by 2027, combined with the North
Field expansion, with a recently signed partnership deal between
Qatar Energy and TotalEnergies for the first and largest phase of
construction for almost QR109.2bn ($30bn), will contribute to the
construction market’s output in the medium to long term. The
research entity states that “In the short to medium term, constraints
may arise due to global supply chain issues, a weakening of export
markets amid inflationary pressures in major countries, and
monetary policy tightening.” During the remaining forecasted
period, the industry is anticipated to grow at an annual average rate
of 3.8% between 2024 and 2027, supported by investment in the
industrial, renewable energy, housing, and oiland gas sectors. “Qatar
Energy signed agreements with Qatar QSC and its subsidiary, Qatar
Fertilizer, to construct a blue ammonia plant capable of producing up
to 1.2mn tonnes of ammonia per year, with construction beginning
in 2023 and ending in 2026, the report noted. On the other hand,
Qatar Energy and Chevron Phillips Chemical inked a partnership deal
of a final investment decision (FID) earlier this year aiming to invest
a total of QR21.8bn ($6bn) in the industry of the integrated olefins
and polyethylene complex, which is expected to be completed by
2026. Research and Markets mentioned that the sector will regain
some growth momentum from 2025, supported by investments in
the transport, renewable energy, housing, and oil and gas sectors. In
May 2023, Qatar’s Public Works Authority (Ashghal) announced a
plan to invest QR4.1bn ($1.1bn) on 22 building projects. Of the total,
10 projects, with an estimated value of over QR3bn ($824.2m), are
under implementation. Among the important developments include
the construction of the Hamad General Hospital, the establishment
of the Madinat Khalifa Health Centre, and the rehabilitation of the
veterinary laboratory building of the Ministry of Municipality. The
report said that“Qatar’s planto increase Liquefied NaturalGas (LNG)
production capacity from 77mn tons per year in 2022 to 126mn tons
per year by 2027, combined with investments as part of the North
Field expansion project, will also boost the industry’s growth over
the forecast period.”QatarEnergy also awarded a QR2bn ($5660mn)
contract to the Spanish engineering firm Técnicas Reunidas for
carrying out Engineering, Procurement, and Construction (EPC)
work related to the North Field South Project (NFS) in August 2023.
(Peninsula Qatar)

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Qatar Stock Exchange
Top Gainers Top Decliners
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
Most Active Shares by Value (QR Million) Most Active Shares by Volume (Million)
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
Investor Trading Percentage to Total Value Traded Net Traded Value by Nationality (QR Million)
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
10.1%
8.7% 8.7% 8.6%
7.9%
0.0%
4.0%
8.0%
12.0%
MEEZA QSTP Medicare
Group
Widam Food
Company
Masraf Al
Rayan
Qatari
Investors
Group
-2.0% -1.9%
-1.6%
-1.5%
-1.3%
-3.0%
-2.0%
-1.0%
0.0%
Doha
Insurance
Group
Qatar Gas
Transport
Company
Limited
Damaan
Islamic
Insurance
Company
Qatar
Navigation
Mannai
Corporation
556.4
237.7
144.0 138.2 121.7
0.0
200.0
400.0
600.0
Masraf Al
Rayan
QNB Group Qatar Islamic
Bank
Gulf
International
Services
Industries
Qatar
223.7
82.5
70.6 63.8
52.4
0.0
100.0
200.0
300.0
Masraf Al
Rayan
Ezdan Holding
Group
Qatar
Aluminium
Manufacturing
Company
Mazaya Qatar
Real Estate
Development
Lesha Bank
0%
20%
40%
60%
80%
100%
Buy Sell
30.06% 33.03%
38.05% 37.67%
13.25% 13.23%
18.65% 16.08%
Qatari Individuals Qatari Institutions
Non-Qatari Individuals Non-Qatari Institutions
1,808
847
1,877
778
-69
69
-500 0 500 1,000 1,500 2,000
Qatari
Non-Qatari
Net Investment Total Sold Total Bought

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TECHNICAL ANALYSIS OF THE QSE INDEX
Source: Bloomberg
The QE index closed up (2.5% from the week before); it closed at 10,221.5 points. The current move, on the weekly chart, suggests that the
V-shaped recovery is expected to continue more on the upside. We have to signify the fact that, technically, the Index remains inside a
downtrend channel. The 9,200-9,000 levels remain to be our support levels on the weekly chart and the resistance level at the 10,500 points
on the Index.
DEFINITIONS OF KEY TERMS USED IN TECHNICAL ANALYSIS
RSI (Relative Strength Index) indicator – RSI is a momentum oscillator that measures the speedand change of price movements. The RSI oscillates between
0 to 100. The index is deemed to be overbought once the RSI approaches the 70 level, indicating that a correction is likely. On the other hand, if the RSI
approaches 30, it is an indication that the index may be getting oversold and therefore likely to bounce back.
MACD (Moving Average Convergence Divergence) indicator – The indicator consists of the MACD line and a signal line. The divergence or the convergence
of the MACD line with the signal line indicates the strength in the momentum during the uptrend or downtrend, as the case may be. When the MACD
crosses the signal line from below and trades above it, it gives a positive indication. The reverse is the situation for a bearish trend.
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between
the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day
candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security's open and close are practically equal. The pattern indicates indecisiveness, and
based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.
ShootingStar/Inverted Hammer candlestick patterns – These candlestick patterns have a small real body (open price and close price are near to each other),
and a long upper shadow (large intraday movement on the upside). The Shooting Star is a bearish reversal pattern that forms after a rally. The Inverted
Hammer looks exactly like a Shooting Star, but forms after a downtrend. Inverted Hammers represent a potential bullish trend reversal.

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Source: Bloomberg
Com pan y Nam e
P rice
Nove m be r
16
% Ch an ge
We e kly
% Ch an ge
YTD
Marke t Cap.
QR Million
TTM
P /E
P /B
Div.
Yie ld
Qatar National Bank 15.83 (0.31) (12.06) 146,213 10.4 1.7 3.8
Qatar Islamic Bank 18.79 4.39 1.24 44,399 11.1 1.8 3.3
Commercial Bank of Qatar 5.45 2.46 9.00 22,058 8.2 1.1 4.6
Doha Bank 1.73 2.43 (11.52) 5,358 19.3 0.5 4.3
Al Ahli Bank 3.75 0.00 (6.46) 9,569 12.3 1.4 5.3
Qatar International Islamic Bank 9.98 1.88 (4.04) 15,107 14.5 2.1 4.0
Masraf Al Rayan 2.53 8.63 (20.25) 23,520 20.0 1.0 4.0
Lesha Bank 1.40 3.03 21.92 1,564 21.4 1.3 N/A
National Leasing 0.74 1.78 5.40 367 25.2 0.6 4.0
Dlala Holding 1.38 3.44 21.10 263 N/A 1.4 N/A
Qatar & Oman Investment 0.90 1.36 62.91 282 N/A 1.2 N/A
Islamic Holding Group 3.96 (1.17) (3.77) 224 34.5 1.5 1.3
Dukhan Bank 3.99 4.53 (8.21) 20,900 1.8 0.2 4.0
Ban kin g an d Fin an cial Se rvice s 289,823
Zad Holding 13.50 0.00 (2.91) 3,880 21.0 3.1 4.4
Qatar German Co. for Medical Devices 1.58 2.26 26.01 183 N/A 5.3 N/A
Salam International Investment 0.70 0.29 13.68 798 19.6 0.6 N/A
Baladna 1.27 4.08 (16.79) 2,422 26.6 1.0 N/A
Medicare Group 5.63 8.73 (9.33) 1,584 21.5 1.6 4.7
Qatar Cinema & Film Distribution 3.01 0.00 (3.37) 189 42.3 1.5 2.0
Qatar Fuel 16.22 0.75 (9.64) 16,127 15.9 1.8 5.5
Widam Food 2.32 8.65 14.32 418 N/A 3.4 N/A
Mannai Corp. 3.98 (1.29) (47.50) 1,817 N/A 1.9 2.5
Al Meera Consumer Goods 13.08 (0.46) (14.62) 2,694 14.1 1.7 3.3
Mekdam Holding Group 5.19 2.65 (9.94) 421 12.2 3.0 5.1
Meeza QSTP 2.87 10.07 32.44 1,865 N/A N/A N/A
Con sum e r Goods an d Se rvice s 32,400
Qatar Industrial Manufacturing 3.00 1.63 (6.57) 1,425 8.7 0.8 4.3
Qatar National Cement 3.60 0.90 (25.58) 2,354 11.2 0.8 8.3
Industries Qatar 13.38 3.88 4.45 80,949 17.4 2.1 8.2
Qatari Investors Group 1.62 7.93 (3.91) 2,014 12.7 0.7 9.3
Qatar Electricity and Water 17.40 2.65 (1.69) 19,140 12.3 1.3 5.5
Aamal 0.84 1.95 (14.15) 5,273 14.7 0.7 6.0
Gulf International Services 2.78 0.22 90.27 5,159 11.8 1.3 3.6
Mesaieed Petrochemical Holding 1.62 1.25 (23.84) 20,352 17.8 1.2 6.8
Estithmar Holding 2.05 0.05 13.89 6,978 20.4 1.5 N/A
Qatar Aluminum Manufacturing 1.29 1.57 (15.00) 7,210 15.3 1.1 7.0
In dustrials 150,854
Qatar Insurance 2.43 0.21 26.11 7,920 33.7 1.4 N/A
QLM Life & Medical Insurance 2.70 3.85 (43.74) 945 10.9 1.6 4.6
Doha Insurance 2.23 (2.02) 12.68 1,115 7.6 0.9 6.7
Qatar General Insurance & Reinsurance 1.21 1.68 (17.57) 1,059 N/A 0.2 N/A
Al Khaleej Takaful Insurance 3.01 3.94 30.73 768 13.4 1.3 3.3
Qatar Islamic Insurance 8.80 (0.90) 1.15 1,320 10.3 2.9 5.1
Damaan Islamic Insurance Company 3.69 (1.60) (12.35) 738 N/A 1.5 4.3
In suran ce 13,865
United Development 1.02 3.45 (21.54) 3,612 8.8 0.3 5.4
Barwa Real Estate 2.81 5.47 (2.05) 10,950 9.3 0.5 6.2
Ezdan Real Estate 0.91 5.79 (8.69) 24,244 N/A 0.7 N/A
Mazaya Qatar Real Estate Development 0.68 1.19 (2.01) 790 24.9 0.8 N/A
Re al Estate 39,595
Ooredoo 9.99 2.12 8.58 31,997 10.8 1.2 4.3
Vodafone Qatar 1.80 1.75 13.44 7,600 13.5 1.6 5.6
Te le com s 39,597
Qatar Navigation (Milaha) 9.44 (1.48) (6.97) 10,729 10.4 0.6 3.7
Gulf Warehousing 3.10 1.60 (23.34) 182 7.8 0.8 3.2
Qatar Gas Transport (Nakilat) 3.39 (1.94) (7.43) 18,781 12.6 1.6 3.8
Tran sportation 29,692
Qatar Exch an ge 597,586

7. qnbfs.com
Contacts
QNB Financial Services Co. W.L.L. Contact
Center: (+974) 4476 6666
info@qnbfs.com.qa
Doha, Qatar
Saugata Sarkar, CFA, CAIA
Head of Research
saugata.sarkar@qnbfs.com.qa
Shahan Keushgerian
Senior Research Analyst
shahan.keushgerian@qnbfs.com.qa
Phibion Makuwerere, CFA
Senior Research Analyst
phibion.makuwerere@qnbfs.com.qa
Roy Thomas
Senior Research Analyst
roy.thomas@qnbfs.com.qa
Dana Saif Al Sowaidi
Research Analyst
dana.alsowaidi@qnbfs.com.qa
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